IFFF.L vs. PAJS.L
IFFF.L (iShares MSCI AC Far East ex-Japan UCITS ETF) and PAJS.L (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc) are both exchange-traded funds - IFFF.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Ex Japan NR USD, while PAJS.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 3 years, IFFF.L returned 22.82%/yr vs 8.74%/yr for PAJS.L. At a 0.42 correlation, their price movements are largely independent. IFFF.L charges 0.74%/yr vs 0.19%/yr for PAJS.L.
Performance
IFFF.L vs. PAJS.L - Performance Comparison
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Returns By Period
In the year-to-date period, IFFF.L achieves a 26.52% return, which is significantly lower than PAJS.L's 10,649.95% return.
IFFF.L
- 1D
- -1.56%
- 1M
- -7.37%
- 6M
- 16.48%
- YTD
- 26.52%
- 1Y
- 47.83%
- 3Y*
- 22.82%
- 5Y*
- 7.65%
- 10Y*
- 9.54%
PAJS.L
- 1D
- 0.00%
- 1M
- -1.92%
- 6M
- 2.91%
- YTD
- 10,649.95%
- 1Y
- 21.08%
- 3Y*
- 8.74%
- 5Y*
- —
- 10Y*
- —
IFFF.L vs. PAJS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IFFF.L iShares MSCI AC Far East ex-Japan UCITS ETF | 26.52% | 30.77% | 13.56% | -4.04% | -12.39% | -0.43% |
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 10,649.95% | -98.87% | 0.76% | 8.67% | -13.67% | -28.63% |
Correlation
The correlation between IFFF.L and PAJS.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.42 |
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Return for Risk
IFFF.L vs. PAJS.L — Risk / Return Rank
IFFF.L
PAJS.L
IFFF.L vs. PAJS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI AC Far East ex-Japan UCITS ETF (IFFF.L) and Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IFFF.L | PAJS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.10 | ||
| Sortino ratioReturn per unit of downside risk | -280.27 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 89.52 | -88.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.90 | 0.21 | +3.69 |
| Martin ratioReturn relative to average drawdown | 11.81 | 0.47 | +11.34 |
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Drawdowns
IFFF.L vs. PAJS.L - Drawdown Comparison
The maximum IFFF.L drawdown since its inception was -72.71%, smaller than the maximum PAJS.L drawdown of -99.32%. Use the drawdown chart below to compare losses from any high point for IFFF.L and PAJS.L.
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Drawdown Indicators
| IFFF.L | PAJS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.71% | -99.32% | +26.61% |
Max Drawdown (1Y)Largest decline over 1 year | -12.19% | -99.06% | +86.87% |
Max Drawdown (3Y)Largest decline over 3 years | -19.69% | -99.06% | +79.37% |
Max Drawdown (5Y)Largest decline over 5 years | -32.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.63% | — | — |
Current DrawdownCurrent decline from peak | -12.19% | -17.87% | +5.68% |
Average DrawdownAverage peak-to-trough decline | -23.53% | -35.69% | +12.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 48.77% | -44.73% |
Volatility
IFFF.L vs. PAJS.L - Volatility Comparison
iShares MSCI AC Far East ex-Japan UCITS ETF (IFFF.L) has a higher volatility of 10.82% compared to Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) at 7.40%. This indicates that IFFF.L's price experiences larger fluctuations and is considered to be riskier than PAJS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IFFF.L | PAJS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.82% | 7.40% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 20.01% | 1,130.17% | -1,110.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.63% | 27,873.19% | -27,850.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.89% | 13,113.62% | -13,093.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.39% | 13,113.62% | -13,094.23% |
IFFF.L vs. PAJS.L - Expense Ratio Comparison
IFFF.L has a 0.74% expense ratio, which is higher than PAJS.L's 0.19% expense ratio.
Dividends
IFFF.L vs. PAJS.L - Dividend Comparison
IFFF.L's dividend yield for the trailing twelve months is around 1.11%, while PAJS.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IFFF.L iShares MSCI AC Far East ex-Japan UCITS ETF | 1.11% | 1.45% | 1.80% | 1.88% | 2.10% | 1.36% | 1.19% | 1.75% | 1.98% | 1.54% | 1.77% | 2.22% |
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IFFF.L and PAJS.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAJS.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAJS.L is cheaper with a 0.19% expense ratio, compared with 0.74% for IFFF.L.
IFFF.L is categorized as Asia Pacific Equities, while PAJS.L is Japan Equities. IFFF.L tracks MSCI AC Asia Ex Japan NR USD, while PAJS.L tracks TOPIX TR JPY. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.74% for IFFF.L and 0.19% for PAJS.L.
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